Retail price growth of general goods in the National Capital Region (NCR) grew to its slowest pace in almost five years in April, the Philippine Statistics Authority (PSA), said in a report.
Citing preliminary data, the PSA said that Metro Manila’s price growth slowed further by 0.9% year on year in April from the 1.1% posted in December as measured by the general retail price index (GRPI).
April’s retail price growth was also significantly lower than the year-earlier rate of 2.1% and marked its weakest pace in almost five years (59 months) or since the 0.6% posted in May 2020.
In the first four months of 2025, GRPI averaged 1.2% from the same period last year, slower than the 2.1% growth in the January to April period in 2024.
“The primary driver to the slower year-on-year growth rate of GRPI in the NCR was the faster annual decline in the index of mineral fuels, lubricants and related materials at 4.7% in April 2025 from a 2.6% annual drop in the previous month,” the PSA said.
This commodity group accounted for 4.17% of the GRPI growth.
The heavily weighted food index, which accounted for 37.5% of the overall index, likewise saw a slower annual growth rate of 1.2% in April compared with the 1.4% posted in March.
Deceleration was also seen in the indices of beverages and tobacco (3.3% in April from 3.6% in March), chemicals, including animal and vegetable oils and fats (1.9% from 2.1%), and miscellaneous manufactured articles (0.9% from 1.1%).
Meanwhile, growth rates steadied in machinery and transport equipment (0.2%) and crude materials, inedible, except fuels (0.6%).
The PSA uses the GRPI as a deflator in the National Accounts, particularly in the retail trade sector, and serves as a basis for forecasting. — Matthew Miguel L. Castillo